Canadians need flood protection

From coast to coast, flooding is the greatest climate risk facing Canadians. In 2025, flooding caused over 1 billion in insured losses, in 2024 it caused over 4 billion in insured losses. Floods damage homes, disrupt communities, and increase pressure on governments’ disaster assistance budgets.

Insurers are part of the solution, helping homeowners reduce their flood risk by offering discounts or better coverage terms for proven flood‑protection measures like backwater valves and sump pumps, and by rebuilding homes more resiliently after a loss.

However, insurance alone can’t solve Canada’s flood problem. We must do more to protect homes so they don’t flood in the first place. All levels of government can do more to protect new and existing homes from flooding, including:

• Keep new homes out of high‑risk floodplains. Where building in flood plains is unavoidable, require cost effective community level mitigation measures. 

• Invest in modernizing wastewater infrastructure to ensure our cities can handle increased rainfall events.

• Strengthen building codes and standards that include flood resilience measures for new homes.

• Scale up home retrofit programs to incentivize homeowners to invest in resilient measures.

• Invest in resilient infrastructure to protect homes and communities.

Investing in mitigation is on one of the most cost-effective choices governments can make. Every dollar spent on adaptation results in 13 to 15 dollars in savings.  Every dollar also lowers future damage, insurance costs, and the burden on disaster assistance programs.